First Foundation president’s shares convert in merger
First Foundation Inc. president of FFA, John Hakopian, reported issuer dispositions of his equity in connection with the company’s merger into FirstSun Capital Bancorp.
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Form Type
4
Rhea-AI Filing Summary
First Foundation Inc. president of FFA, John Hakopian, reported issuer dispositions of his equity in connection with the company’s merger into FirstSun Capital Bancorp. The filing shows 5,287 restricted stock units, 82,554 shares of common stock held directly, and 620,842 shares held through a Family Trust were disposed of.
Under the Agreement and Plan of Merger, each First Foundation common share converted into the right to receive 0.16083 shares of FirstSun common stock, with cash for fractional shares. All related restricted stock units, including performance-vested awards, were assumed by FirstSun and converted using this exchange ratio. Following the merger, Hakopian no longer beneficially owns First Foundation common stock.
Insider Trade Summary
Disposition: 708,683 shares
Disposition
3 txns
Insider
HAKOPIAN JOHN
Role
President, FFA
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Restricted Stock Unit | 5,287 | $0.00 | $0.00 |
| Disposition | Common Stock | 82,554 | $0.00 | $0.00 |
| Disposition | Common Stock | 620,842 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Unit — 0 contracts (Direct);
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, Family Trust)
Footnotes (3)
- F1. Disposed of pursuant to the Agreement and Plan of Merger, dated October 27, 2025 (the "Merger Agreement"), by and between the Issuer and FirstSun Capital Bancorp ("FirstSun"). Pursuant to the terms of the Merger Agreement, at the effective time of the merger, each share of Issuer common stock converted into the right to receive 0.16083 shares of FirstSun common stock (the "Exchange Ratio"), with cash paid in lieu of fractional shares. As a result of the merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of Issuer common stock.
- F2. Includes restricted stock units with respect to 4,700 shares of the Issuer's common stock. Pursuant to the Merger Agreement, at the effective time of the merger, the restricted stock units were assumed by FirstSun and converted into restricted stock units with respect to a number of shares of FirstSun common stock equal to the number of issuer shares underlying the restricted stock unit multiplied by the Exchange Ratio.
- F3. Performance-vested RSUs under Issuer's 2024 Equity Incentive Plan, in each case subject to continuous employment and subject to the achievement of certain performance criteria and strategic goals. Pursuant to the Merger Agreement, at the effective time of the merger, the restricted stock units were assumed by FirstSun and converted into restricted stock units with respect to a number of shares of FirstSun common stock equal to the number of issuer shares underlying the restricted stock unit multiplied by the Exchange Ratio.
Key Figures
Restricted stock units disposed: 5,287 units
Direct common shares disposed: 82,554 shares
Indirect common shares disposed: 620,842 shares
+2 more
5 metrics
Restricted stock units disposed
5,287 units
RSUs tied to First Foundation common stock converted and assumed at merger
Direct common shares disposed
82,554 shares
Common stock held directly by John Hakopian, returned to issuer at merger
Indirect common shares disposed
620,842 shares
Common stock held through a Family Trust, returned to issuer at merger
Exchange ratio
0.16083 shares
FirstSun common stock received per First Foundation common share
Shares following transaction
0 shares
Total First Foundation common stock beneficially owned by Hakopian after merger
Key Terms
Agreement and Plan of Merger, Exchange Ratio, restricted stock units, Performance-vested RSUs, +1 more
5 terms
Agreement and Plan of Merger regulatory
"Disposed of pursuant to the Agreement and Plan of Merger, dated October 27, 2025"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Exchange Ratio financial
"each share of Issuer common stock converted into the right to receive 0.16083 shares of FirstSun common stock (the "Exchange Ratio")"
The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.
restricted stock units financial
"Includes restricted stock units with respect to 4,700 shares of the Issuer's common stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance-vested RSUs financial
"Performance-vested RSUs under Issuer's 2024 Equity Incentive Plan"
Family Trust financial
"Common Stock ... indirect ... nature_of_ownership: "Family Trust""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did First Foundation (FFWM) president John Hakopian report in this Form 4?
John Hakopian reported returning shares to the issuer as part of the First Foundation–FirstSun merger. He disposed of common stock and restricted stock units, and his First Foundation holdings were converted or assumed under the merger terms, leaving him with no remaining First Foundation common stock.
What happened to John Hakopian’s restricted stock units in the FFWM merger?
Hakopian held 5,287 restricted stock units tied to First Foundation common stock, including performance-vested RSUs. At the merger’s effective time, FirstSun assumed these awards and converted them into FirstSun restricted stock units using the same exchange ratio applied to common shares.
How were performance-vested RSUs treated in the First Foundation (FFWM) merger?
Performance-vested RSUs under First Foundation’s 2024 Equity Incentive Plan remained subject to employment and performance conditions. At the merger’s effective time, FirstSun assumed these awards and converted them into FirstSun RSUs for a share count equal to underlying issuer shares multiplied by the 0.16083 exchange ratio.
AI-generated analysis. How Rhea-AI works. Not financial advice.
